CONTRACT INTEREST Sample Clauses
The CONTRACT INTEREST clause defines the terms under which interest will be charged on outstanding amounts owed under the contract. Typically, this clause specifies the applicable interest rate, the method of calculation (such as simple or compound interest), and the circumstances that trigger interest accrual, such as late payments or overdue invoices. Its core practical function is to incentivize timely payments and compensate the party owed money for the time value of delayed funds, thereby reducing the risk of non-payment or late payment.
CONTRACT INTEREST. No officer or employee of the County, who is authorized in such capacity and on behalf of the County to negotiate, make, accept or approve, or to take part in negotiating, making, accepting or approving this contract, shall become directly or indirectly interested personally in this contract, or in any part hereof. No officer or employee of, or for the County, who is authorized in such capacity and on behalf of the County to exercise any supervisory or administrative function in connection with this contract, shall become directly or indirectly interested personally in this contract or in any part hereof.
CONTRACT INTEREST. RATE The ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ at the rate of eight and sixty-one hundredths percent (8.61%) per annum (the "Note Rate"). Interest shall be calculated on the basis of a 360-day year and computed each month in arrears on the basis of a 30-day month.
CONTRACT INTEREST. No officer or employee of the Nation, who is authorized in such capacity and on behalf of the Nation to negotiate, make, accept, approve or monitor, or take part in negotiating, making, accepting, approving or monitoring this Agreement, shall become directly or indirectly interested personally in this Agreement, or any part hereof. No officer or employee of the Nation who is authorized in such capacity and on behalf of the Nation to exercise any supervisory or administrative function in connection with this Agreement shall become directly or indirectly personally interested in this Agreement or any part hereof.
CONTRACT INTEREST. No Board member shall be financially interested in any contract or other transaction entered into by the Board of which he/she is a member, and any contract or transaction entered into in violation of this section is void.
CONTRACT INTEREST. In the event there is dispute over the application of contractual interest the following disposes of that concern. Section 25 of the Supreme Court of Judicature Act Chap 4:01 is of significance as it specifically outlines the powers of the Courts to award interest on debts and damages. Section 25
CONTRACT INTEREST. No current officers, directors, or employees of the County shall be hired or retained by the Consultant to fill any staff positions or perform any services required under the terms of this Agreement, and parents, spouses, siblings, and children of current officers, directors, or employees of the County will not be employees of the Consultant paid from these funds without the prior written approval of the County.
CONTRACT INTEREST. CUtTent contract buyers or assignees of contracts for the sale of the property:
CONTRACT INTEREST. No officer or employee of the City who is authorized in such capacity and on behalf of the City to negotiate, make, accept or approve, or take part in negotiating, making, accepting or approving this contract, shall become directly or indirectly interested personally in this contract, or in any part hereof. No officer or employee for the City, who is authorized in such capacity and on behalf of the City to exercise any supervisory or administrative function in connection with this contract, shall become directly or indirectly interested personally in this contract or in any part hereof.
CONTRACT INTEREST. 1. Current contract buyers or assignees of contracts for the sale of the property:
a. None
2. Current contract sellers of the property:
a. None